Six OPEC+ countries reported additional voluntary oil production cuts in the first quarter of 2024.
In particular, Saudi Arabia will reduce production by 1 million barrels per day until the end of March, Russia will reduce production by 500 thousand bpd, Kazakhstan's oil production cut will amount to 82 thousand bpd. Kuwait will reduce production by 135 thousand bpd, while Oman will reduce it by 42 thousand bpd. Algeria's oil production will be reduced by 51 thousand barrels per day.
The Ministry of Energy of Azerbaijan reported that the country's quota for next year would be 551 thousand barrels.
Let us remind you that it was previously reported that the countries included in the alliance agreed on a total reduction in production by 2 million barrels per day.
